Natural Resources
The country has rich but largely unexploited natural resources in the form of diamonds, gold, uranium, and other minerals. Diamonds constitute the most important export of the CAR, frequently accounting for 40-55% of export revenues, but an estimated 30-50% of the diamonds produced each year leave the country clandestinely. There may be petroleum deposits along the country's northern border with Chad (Two billion barrels of oil are present in private estimates). Diamonds are the only of these mineral resources currently being developed; reported sales of largely uncut diamonds make up close to 60% of the CAR's export earnings. Industry contributes less than 20% of the country's GDP, with artesian diamond mining, breweries, and sawmills making up the bulk of the sector. Services currently account for 25% of GDP, largely because of the oversized government bureaucracy and high transportation costs arising from the country's landlocked position.
Read more about this topic: Economy Of The Central African Republic
Famous quotes containing the words natural and/or resources:
“[O]ur rules can have authority over such natural rights only as we have submitted to them. The rights of conscience we never submitted, we could not submit. We are answerable for them to our God.”
—Thomas Jefferson (1743–1826)
“But, with whatever exception, it is still true that tradition characterizes the preaching of this country; that it comes out of the memory, and not out of the soul; that it aims at what is usual, and not at what is necessary and eternal; that thus historical Christianity destroys the power of preaching, by withdrawing it from the exploration of the moral nature of man; where the sublime is, where are the resources of astonishment and power.”
—Ralph Waldo Emerson (1803–1882)